Fortescue reports record net high profit

Andrew "Twiggy" Forrest will receive his third $100 million pay day from Fortescue Metals Group in the space of 13 months, after a $US2.74 billion profit allowed the miner to continue paying healthy dividends to shareholders.

The result was slightly lower than analysts had expected, but was a massive 56 per cent higher than last years $US1.74 billion profit.

The bigger profit was built upon a significant increase in iron ore exports, and came in a year when prices for Fortescue's only product were lower than previous years.

The company paid a 10 cent dividend, taking its full year dividend to 20 cents.

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Mr Forrest owns 33.19 per cent of Fortescue according to Bloomberg statistics, meaning his stake will earn about $103.3 million when dividends are payed in October.

The company has also payed down another $US500 million on its debt, meaning its net debt now stands at $US7.2 billion